Shown here are 12 of the recipients of Area Development’s 2014 Gold & Silver awards, which were bestowed in recognition of the states’ efforts to capture new facility and expansion projects that resulted in significant investment and job creation. All told, 20 states were recognized for their efforts.
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Economic growth in the Midwest was steady in 2014, thanks to solid performances by the agriculture and manufacturing sectors, especially transportation equipment. The economy also got a boost from the surging energy sector, led by oil-shale production in Ohio, which improved sales for supporting industries like sand, chemicals, and steel drill pipe made in Midwestern steel plants.
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As companies plan for the future, water keeps pushing itself onto their agendas like an incessant tide. Water resources clearly are rising in significance in many site location decisions, and industry participants expect ‘water pressure’ to keep climbing.
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Now that we are in a clear growth mode, companies seeking industrial, distribution, R&D facilities, and office space increasingly are pressed to find existing buildings that will accommodate their needs.
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Having a low union profile ranked as slightly more important in Area Development’s latest Corporate Survey, up one position to #9. But in a similarly incremental sense, U.S. unions overall actually may have gained some ground over the last year.
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When the industrial real estate recovery began, the trends that likely would drive its transformation and progress became a favorite discussion topic among industry practitioners. Just a few years later, our sector continues on a solid, positive trajectory. Now feels like a good time to look at whether those early prognostications have played out.
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